Devon Archer, a former business partner of Hunter Biden, has been in the news lately due to his legal troubles and subsequent sentencing. Archer’s net worth and financial dealings have become a topic of interest as details surrounding his conviction have come to light. As a financier and business partner, Archer’s net worth can be expected to be considerable; however, the exact figures are not readily available.
The public’s curiosity in Archer’s financial status peaked when he was sentenced to a year and a day in prison for his involvement in a fraudulent scheme. Along with the sentence, Archer was ordered to forfeit $15,700,513 and make restitution in the amount of $43,427,436 to the victims of said fraud. These significant financial penalties brought about questions regarding Archer’s overall financial worth.
In addition to his now-infamous business dealings, Archer has been known for his philanthropic activities and his connections to prominent individuals. Such activities, combined with the various fraud accusations, have left many people wondering how much money Devon Archer has been able to accumulate throughout his career.
Early Life and Family
Birth and Age
Devon Archer was born and raised in the United States. Although his exact birth date is not publicly available, it is known that he has been actively involved in the business world for many years, suggesting he may be in his 40s or 50s.
Devon Archer received his education in the United States, where he attended various institutions to develop his skills, knowledge, and expertise in the field of business. However, specific details regarding his educational background, such as the schools he attended or degrees obtained, are not currently available.
Relationships and Marriage
Devon Archer’s personal life is relatively private, and details about his relationships and marriage status are not widely known. It is known that he has been connected to the Biden family, as he was once considered “family” to them, through his business partnership with Joe Biden’s son, Hunter.
While specific information about Devon Archer’s family is limited, it is evident that his relationships extend beyond immediate members into a broader network of connections. Archer has maintained professional and personal relationships across several industries, with his ties to the Biden family being a prominent example. This demonstrates his ability to form and sustain relationships that span both family and business pursuits.
Career and Business Ventures
Real Estate and Investments
Devon Archer has been actively involved in the real estate and investment industries, with focus on developing commercial and residential properties. His real estate ventures have been instrumental in building his net worth over the years. Archer’s investment portfolio includes diverse assets such as stocks, bonds, real estate properties, and various business ventures.
Rosemont Seneca Partners
Additionally, one of the key highlights of Devon Archer’s career is his partnership with Rosemont Seneca Partners, an investment advisory firm that he co-founded with Chris Heinz, the stepson of former Secretary of State John Kerry, and Hunter Biden, President Joe Biden’s son. The firm focuses on private equity and advisory services for clients both domestic and international. Rosemont Seneca Partners has played a significant role in building Archer’s net worth, as the firm has been involved in numerous high-profile deals, collaborations, and partnerships.
Devon Archer also co-founded Eudora Global, an investment firm focused on ventures in renewable energy, technology, and real estate. Eudora Global has invested in an array of businesses, contributing to Archer’s overall success in the world of business and finance.
Through these various business ventures, Devon Archer has built a successful career in real estate and investment sectors. Despite facing legal issues and controversies, these enterprises have significantly contributed to his net worth over the years.
Net Worth and Wealth
2023 Devon Archer’s Net Worth
Devon Archer’s net worth in 2023 is believed to be more than a couple of million dollars, according to business insiders. His overall profits continue to grow daily, and he is gaining popularity on all sides. Archer is a managing partner at Rosemont, which is also owned by the Heinz family. The rapid growth of the company has played a significant role in increasing his wealth, with the company now valued at $2.4 billion.
While the exact amount of Devon Archer’s salary is not publicly disclosed, it’s reasonable to assume that his position as managing partner at a successful company like Rosemont earns him a substantial income. As Rosemont continues to expand and gain more market value, it is likely that Archer’s salary will also continue to grow.
Although detailed information regarding Archer’s personal assets is scarce, one can infer that his wealth allows him to maintain a comfortable lifestyle. As a well-connected businessman and high-ranking official within Rosemont, Archer undoubtedly has access to resources and opportunities for investment and asset accumulation.
As of now, there is no substantive information available regarding any forfeiture or adverse financial impacts on Devon Archer’s net worth. Archer has managed to maintain secrecy about the specifics of his financial holdings, allowing him to keep his wealth under wraps. However, as a prominent figure in the business world, it is essential for Archer to remain vigilant against potential financial challenges that could impact his net worth in the future.
Connection to Hunter Biden and Burisma Holdings
Relationship with Hunter Biden
Devon Archer has been connected to the Biden family for several years. He and Hunter Biden worked together at the investment firm, Rosemont Seneca Partners. Their professional relationship eventually led to both men joining the board of Burisma Holdings in 2014.
Burisma Holdings is a Ukraine-based energy company that was founded in 2002. It specializes in the exploration, production, and sale of natural gas, oil, and condensate. The company has multiple subsidiaries and focuses on the development of international resource projects.
Both Devon Archer and Hunter Biden held positions on the board of Burisma Holdings starting from 2014. According to payment records reviewed by Reuters, Burisma paid about $3.4 million to a company controlled by Archer during their tenure. Archer played a key role in shaping the company’s international expansion and engagement with foreign stakeholders.
Through his involvement with Burisma Holdings, Archer’s actions have come under scrutiny, especially considering his connection to the Biden family. His role in a separate fraud case has further brought his association with Hunter Biden and Burisma Holdings into the public eye.
Securities Fraud Case and Legal Issues
Conspiracy to Commit Securities Fraud
Devon Archer was involved in a high-profile case of conspiracy to commit securities fraud. Archer, along with others, was convicted for orchestrating a scheme that involved fraudulent investments and issuance of bonds. These illegal activities led to financial losses for multiple entities, including a Native American tribe and pension funds.
Defrauding Native American Tribe
A key aspect of this case was the defrauding of a Native American tribe. Devon Archer, together with his accomplices, manipulated the tribe into participating in a fraudulent bond issuance scheme. They induced the tribe to issue $60 million worth of bonds, which were backed by the tribe’s economic development authority.
Victims and Restitution
The victims of this securities fraud were not limited to the Native American tribe. Devon Archer’s scheme affected several pension funds, as well. The fraudulent activities led to huge losses for these funds, damaging their long-term prospects and financial stability.
As a result of the legal proceedings and convictions, Devon Archer was ordered to forfeit $15,700,513 and make restitution in the amount of $43,427,436. Additionally, his co-conspirator, Jason Galanis, was sentenced to 173 months in prison in August 2017 after pleading guilty to conspiracy to commit securities fraud, securities fraud, and investment adviser fraud.
Court Proceedings and Sentencing
Devon Archer, former business partner of Hunter Biden, plans to appeal his sentence of a year and a day for his role in a $43 million fraud. In March 2023, his counsel Matthew Schwartz sent a letter to U.S. District Judge Ronnie Abrams requesting a stay of his surrender pending appeal.
Forfeiture and Restitution Reliefs
As part of the verdict, Archer has been ordered to forfeit $15,700,513 and is jointly responsible with his co-defendants to make restitution in the amount of $43,427,436. Manhattan federal prosecutors have been actively pursuing Archer for the debts owed to victims.
Statement and Remorse
During the trial, Archer maintained his innocence and expressed a desire to right any wrongs. However, he was found guilty along with his co-defendants John Galanis and Bevan Cooney. The trio was convicted of conspiracy to commit securities fraud and securities fraud following a five-and-a-half-week trial before U.S. District Judge Ronnie Abrams in Manhattan.
Besides the prison term, Devon Archer, aged 47, was sentenced to a year of supervised release. The court hopes that the sentence, restitution, and forfeiture will serve as a deterrent for such fraudulent activity in the future.
Height and Weight
Information regarding Devon Archer’s height and weight is not available. However, he maintains a healthy lifestyle to support his career as a businessman.
Social Media Presence
Devon Archer is not very active on social media platforms such as Twitter, Instagram, or Facebook. He prefers to keep a low profile and focuses on his professional life.
Devon Archer is an American businessman who has gained some attention due to his association with Ukrainian-based private oil and gas company, Burisma Holdings Ltd. He sat on the board alongside Hunter Biden. Although he has had some controversies due to this connection, he continues to work on improving his public image by focusing on his career and professional achievements.
Archer has been involved in some legal matters, such as being sentenced to a year and a day in prison for a fraudulent tribal bond scheme, alongside being ordered to forfeit $15,700,513 and pay restitution of $43,427,436. This has impacted his public image in a negative way, but he continues to work towards bettering himself and moving forward.
Media Coverage and Publicity
Joe Biden and White House
Devon Archer’s name has appeared in the media in connection with Joe Biden and the White House. Archer has been described as a friend and former business associate of Hunter Biden, the president’s son. The relationship between Archer and the Bidens has been scrutinized, particularly during the 2020 presidential campaign. The media has reported on Archer’s conviction and sentencing for fraud, which has led to further discussions about the potential impact on the administration’s image.
Tucker Carlson and Fox News
Fox News, specifically host Tucker Carlson, has been one of the more vocal news outlets covering Devon Archer’s conviction, net worth, and connections to the Biden family. Tucker Carlson has discussed the case on his show, exploring various angles such as the implications for the White House and potential corruption or conspiracy. The tone of the coverage from Fox News and Tucker Carlson tends to be critical of the Bidens and their associations.
Online Biographies and Profiles
There are numerous online biographies and profiles for Devon Archer, which provide varying degrees of detail about his personal and professional life. Many of these sources have focused on his net worth, which is estimated to be over a million dollars. Archer’s role as a managing partner at Rosemont, a company valued at $2.4 billion and connected to the Heinz family, has been highlighted in these profiles. Additionally, his connections to prominent political figures like John Kerry have been noted in these online sources.
In summary, Devon Archer’s net worth, connections to political figures, and legal troubles have led to a significant amount of media coverage and public interest. Outlets like Fox News and Tucker Carlson have focused on the potential implications for the Biden administration, while online biographies and profiles have concentrated on his overall wealth and professional associations.